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Enanta Pharmaceuticals (ENTA) PT Lowered to $26 at Baird - Feb. 8, 2024
Still good?
Enanta Pharmaceuticals (ENTA) PT Lowered to $26 at Baird - Feb. 8, 2024
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https://www.streetinsider.com/Analyst+PT+Change/Enanta+Pharmaceuticals+%28ENTA%29+PT+Lowered+to+%2426+at+Baird/22738803.html
ENTA reports FY1Q24* results:
https://ir.enanta.com/news-releases/news-release-details/enanta-pharmaceuticals-reports-financial-results-its-fiscal-38
• 12/31/23 cash = $337M, a decrease of $33M relative to 9/30/23..
• FY1Q24 royalty revenue was $18.0M, -5% QoQ and –20% YoY. 54.5% of ENTA’s Mavyret royalties are payable to OMERS (Canada’s largest pension fund), and this amount is treated for accounting purposes as an amortization of debt (see discussion in #msg-172603887).
• FY1Q24 R&D expenses were $36.4M, somewhat above the quarterly run rate of ENTA’s FY2024* guidance of $100-120M.
• FY1Q24 SG&A expenses were $16.5M, somewhat above the quarterly run rate of ENTA’s FY2024* guidance of $45-50M.
• Legal expenses for the Paxlovid lawsuit against PFE were a material portion of the SG&A expenses for the quarter.
• ENTA reiterated that its cash and expected royalty revenue are sufficient to fund operations through the end of FY2027.
*ENTA’s fiscal years end on September 30.
I am uncertain, but I think it relates to information that will be considered for the purpose of establishing a monetary value for damages. It does not mean that there will be an award and it does not indicate that the case is near decision, probably still far from a decision. A little more insight into this topic can be gleaned from the information at https://www.finnegan.com/en/insights/articles/d-mass-patent-litigation-update-july-2023.html
It is only a single page, but especially the paragraph which starts with, "Last, the court found..." gives a glimpse of the type of considerations.
I made my post in hopes that a more informed person would extend additional thoughts, or even provide a correction to my implied input.
Maybe you could explain what that is for those of us unfamiliar with legal jargon. Thanks.
The part where Pfizer is required to admit that they know how much food the cat has eaten without acknowledging that there is a cat in the bag, below information taken from (https://www.pacermonitor.com/public/case/44980990/Enanta_Pharmaceuticals,_Inc_v_Pfizer_Inc)
Friday, February 02, 2024
163 motion Seal Fri 02/02 4:42 PM
MOTION to Seal Memorandum in Support of Motion to Compel Pfizer to Provide Damages-Related Discovery and Accompanying Exhibits (Unopposed) by Enanta Pharmaceuticals, Inc..(Fiacco, Barbara)
ENTA has had an EHS Manager for the last ten years. The existing manager is moving to a new industry hence the job posting. Part of the reason for the move is the lease expiring in a few years and the building is in “ band aid shape”. The new facility is very close by and new construction.
My comment is both speculative, "I think" and subjective "prolonged period of time."
I do not know that the previous EHS Manager left, nor do I know that Enanta ever had an EHS Manager. I do know what it is like to decommission a lab and to move laboratory operations to a new facility. I recognize that it could be possible to have all new equipment established at the new location prior to ending operations at the present location so that the move does not result in loss of operations, but the information within the job description indicates that readying safety procedures for work at the new facility and gaining IBC approval for the new site as well as getting all of the necessary (local) approvals necessary for the research that Enanta performs is not complete at this time.
As a matter of weighing the potential for extensive interruption of bench R&D activities I offer that this is a consideration to be recognized by the investment community. I also speculate that this move is a positive indication that the company does not intend to dissolve in the near future which is very polar to the vocalization of some that the best move for the company would be to pull the plug later this year.
…this is going to reduce bench R&D activities for a prolonged period of time, sticky tape.
ENTA New Lab 2024 (The Move)
I had hoped Enanta's lab move was completed during 2023, but the current job posting for an Environment Health and Safety Manager says the move will occur during 2024. I think this is going to reduce bench R&D activities for a prolonged period of time, sticky tape.
PFE would probably argue for "apportionment" if the case reached the stage of awarding damages, but it seems like a weak counter since ritonavir is not an active agent against COVID and it is only in the mix because of the pharmacokinetic deficiencies of nirmatrelvir.
Patent award apportionment (Ritonavir)
Should the inclusion of Ritonavir be expected to significantly reduce any potential infringement award due to apportionment?
Any thoughts?
Reversing nicely... Can't wait to see it over $15 in the coming weeks (hopefully)
SEC reported Today (11JAN2024) that MILLENNIUM MANAGEMENT LLC INCREASED $ENTA shares.
Before: 1,024,676 Shares.
Now: 1,314,949 Shares.
Newly Added: 290,273 Shares.
Increase: 28.33%
Approx Trxn Value :$3.19 M
Own %: 6.20%
#ThinkSabio #StockMarket #SEC #SEC-Update $ENTA: $11.31
— ThinkSabio.com (@think_sabio) January 11, 2024
Sector: Healthcare
SEC reported Today (11JAN2024) that MILLENNIUM MANAGEMENT LLC INCREASED $ENTA shares.
Before: 1,024,676 Shares.
Now: 1,314,949 Shares.
Newly Added: 290,273 Shares.
Increase: 28.33%
Approx Trxn Value… pic.twitter.com/ETn0mTTiBC
ENTA updated corporate slides (1/8/24):
https://ir.enanta.com/static-files/0b9a9564-339c-4501-8c98-eab636846bf4
Differences between the 1/8/24 slides and the previous version (9/12/23) are relatively minor. (In the bullet points below, I’ve omitted mention of slides that were merely re-sequenced with no changes to the content.)
• The pipeline chart on slide 5 includes the newly disclosed preclinical program in chronic spontaneous urticaria (CSU), an autoimmune disease.
• EDP-938, ENTA’s lead RSV compound, is now called Zelicapavir (slides 10-16).
• Old slides 18-20 on the hMPV program are gone; ENTA previously announced the termination of this program for business reasons.
• Slides 21-25 on the EDP-235 program supersede old slides 22-31; the new slides summarize the phase-2 data textually but omit the K-M curves that were previously displayed.
• Slides 27-28 on the HBV program supersede old slides 33-35, condensing this material.
• Slides 30-33 have info on the new CSU program.
• Slide 34 shows 2024 catalysts.
You mentioned TGTX options...its up over 20 per cent since you did.. If you bought call options..good for you
Could the Mgt surprise us with partnership news ? Enanta plans to pursue any future COVID-19 efforts in the context of a collaboration, including the development of EDP-235, an oral, once-daily, Phase-3-ready, 3CL protease inhibitor which has been granted Fast Track designation by the FDA.
Meanwhile.. I just added some FEB 12.50 calls on Friday for 1 dollar each
This is not the first time that Enanta has explored molecules for therapeutic use in immunology:
Cystic Fibrosis - macrolide 2005
Inflammatory bowel disease - macrolide 2008
Name your disease - cyclosporine adnauseam
Hopefully they have learned a lot and the new venture yields more economic rewards that the past ventures.
I thought I would be a long time holder, but getting out sooner is looking better to me all of the time.
Yesterday it takes 752,300 shares to move the price up.. today's early drop was based on mere 30k shares. Somehow is recycling the shares like no tomorrow. Cash + Royalty worth 20 bucks, We get paid 9 dollars for the assets.
laughing all the way to the bank..scenario..experiencing lol pretty good music to support the statement
I hope it goes to 20 in the next 2 weeks...then some of my 15 cents call options will become 10 dollars...lol...they're already over 2
ENTA’s new non-virology program is in immunology:
Highly unlikely, IMO.
Is it likely that an agent from this program could be used to counter the itch associated with their MASLD candidates?
Just the net cash + 45% royalty alone translates to $20 per share for ENTA.
Its COVID drug is not dead as PFE's still make billions in sale.
Good to see ENTA over 11...didn't happen since October 1.... Now...as they say..SKY IS THE LIMIT....we will be having a breakout... and hopefully over 15 in couple of weeks
Interesting and I hope its good to the ear of the market....
ENTA’s new non-virology program is in immunology:
https://finance.yahoo.com/news/enanta-pharmaceuticals-updates-research-development-120000343.html
Today, Enanta announced its expansion into immunology with its first program in chronic spontaneous urticaria (CSU), a severely debilitating, chronic inflammatory skin disease. CSU is estimated to affect 0.5% to 1% of the global population, and there is a substantial unmet need for an efficacious oral agent. Currently, approximately half of patients are not controlled with antihistamines, and a minority of those patients are treated with one indicated biologic.
Enanta’s approach is to treat CSU by depleting mast cells through KIT inhibition, addressing a primary driver of the disease. The company has developed novel, potent and selective oral inhibitors of KIT, which are now being optimized in preclinical development. Enanta’s prototype inhibitors potently inhibit activity in both binding and cellular function assays and are highly selective for KIT versus other kinases. These inhibitors also demonstrate strong in vitro and in vivo ADME* properties.
Thanks for the info...I am hoping that their early 2024 announcement is going to happen soon and it will be positive for the stock price.. That's my bet anyway.
The volume is not any greater than usual, and the short interest is quite deep. This stock often trades in the opposite direction of the Nasdaq indexes, especially when there is a move of more than 1% in the Nasdaq.
It probably isn't... since the volume is much higher already and we still have 2 more hours to go... Buyers have arrived back from vacation
Thanks..all true..and its moving....
tax loss selling is over ..it seems
You can actually have 10 thousand open interest and everything can go to zero.
Open interest is not really an indication for anything.
currently own almost the half open interest and the lowest I paid was 15 cents and highest 45 cents... Stock price must go up for it to work..not open interest..not spread[
ENTA is on the JPM schedule for Wed Jan 10 at 12:45pm ET.
They haven't made the announcement yet. while several other companies already did. If you're talking about 42nd Annual JPM healthcare conference.
https://www.bing.com/search?q=42nd%20Annual%20J.P.%20Morgan%20Healthcare%20Conference&FORM=ARPSEC&PC=ARPL&PTAG=30165
You can actually have 10 thousand open interest and everything can go to zero... Open interest is not really an indication for anything.. I currently own almost the half open interest and the lowest I paid was 15 cents and highest 45 cents... Stock price must go up for it to work..not open interest..not spread
RVNC options price is more expensive for Jan 10 calls than ENTA even though ENTA stock price almost touched 10 today.
..RVNC options price is more expensive for Jan 10 calls than ENTA even though ENTA stock price almost touched 10 today... And ENTA mgt will have something to say on early Jan. Much more fanfare in RVNC options market than ENTA
tax loss selling is over ..it seems
It should at minimum trade back to cash level given the remaining royalties worth about 200mm
It’s a double from here easily
Added more for 9.4... About to go higher sooon
Jan 10 investor conf could help the price to go up with any positive news
Recent setbacks in T-cell therapy, such as Atara Biosecience's failure in MS, raise questions about the field's overall effectiveness. This could potentially remove a competitor from the RSV space, making ALVR106 more attractive to larger pharmaceutical companies.
ALVR also has an RSV program.
ALVR106 is an allogeneic, off-the-shelf, multi-virus specific T-cell therapy candidate designed to target human metapneumovirus (hMPV), influenza, parainfluenza virus (PIV), and respiratory syncytial virus (RSV).
Recent setbacks in T-cell therapy, such as Atara Biosecience's failure in MS, raise questions about the field's overall effectiveness. This could potentially remove a competitor from the RSV space, making ALVR106 more attractive to larger pharmaceutical companies.
ALVR’s failed program was not for COVID:
https://www.globenewswire.com/news-release/2023/12/22/2800535/0/en/AlloVir-Provides-Updates-on-Phase-3-Clinical-Development-Program-for-Posoleucel-an-Allogeneic-Virus-Specific-T-Cell-Therapy.html
…posoleucel, an investigational off-the-shelf multi-virus-specific T cell therapy, which targets six viral pathogens in immunocompromised individuals: adenovirus (AdV), BK virus (BKV), cytomegalovirus (CMV), Epstein-Barr virus (EBV), human herpesvirus-6 (HHV-6) and JC virus (JCV).
ALVR failed in Phase 3. How does it affect ENTA? I think one more less competition. Do we have a chance to do some deals with Gilead Sciences?
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